Wal-Mart and Humana unveil low-cost prescription drug plan

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Bentonville, Ark. Wal-Mart Stores and health insurer Humana said Friday they are teaming up to offer a low-cost Medicare Part D prescription drug plan. The new Humana Walmart-Preferred Rx Plan will have a premium of $14.80 per month, which the two companies said is the lowest premium for any standalone national plan in 2011.

The companies also said members who fill their prescriptions at preferred pharmacies, including those in Walmart, Neighborhood Market, and Sam's Club locations, can have co-payments of as little as $2.

Some members who receive prescriptions through Humana's RightSource home-delivery service will have no co-payments.

Prospective members can enroll in the plan from Nov. 15 through Dec. 31 at the Humana or Medicare websites, at Walmart stores with Humana informational kiosks, or by calling Humana by phone.

Medicare Part D is the prescription drug program supported by the federal government. According to the Kaiser Family Foundation, nearly 18 million people are currently enrolled in a standalone Part D plan and Families USA reports that seniors generate one-third of all prescriptions filled in the United States.